Despite a crackdown on how landlords can charge for regulated apartments, delays in state regulations allow building owners to “Frankenstein” apartments together to dramatically raise rents. Read more:
Charni Sochet, a spokesperson for DHCR, said the agency is still working on writing new rules to address the loophole. She did not say what was causing the delay.
In one of the buildings in Loftman’s complex on Columbus Avenue, she said her landlord recently combined apartments 7O and 7P, one of which she said was a rent-stabilized unit, to create a three-bedroom, three-bathroom apartment. The apartment, with private terraces and a wet bar, was listed for $13,150 on StreetEasy. The average price for previous rentals in the building is $3,756, according to the real estate website.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How NYC landlords continue to use a rent law loophole to spike regulated rentsMore than three years after New York lawmakers restricted landlords’ ability to jack up the rent in regulated apartments, some property owners are using a gray area in the law to create “Frankenstein” apartments and dramatically raise the rent.
Read more »
Florida landlords trying to stop rent control initiativeBallots have yet to be printed, but a group of Florida landlords, apartment managers and more want to stop voters from deciding on rent control for a year in Orange County.
Read more »
Military families' housing benefits lag as rents explodeAmid record-breaking spikes in rent, service members and housing activists say the Department of Defense has neglected its commitment to help military families find affordable homes.
Read more »
Massive rent hikes may finally be coming to an end, economist saysRent prices are still at an all-time high for many tenants, but data shows asking rent prices have begun to slow.
Read more »
‘What is in this f–king U-Haul?’: Cheap rental trucks are the trendy new date night hotspot'What is in this f–king U-Haul?': Cheap rental trucks are the trendy new date night hotspot
Read more »
Texas Real Estate - 201,639 Homes for Sale and RentThe 11,248-square-foot estate at 3920 Inverness Drive was originally listed at $18 million in June, according to the Houston Business Journal. Now it's down to $12,999,000 on
Read more »